Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 28,372 shares of the information services provider’s stock after selling 149 shares during the quarter. Alphabet accounts for about 1.0% of Chemistry Wealth Management LLC’s investment portfolio, making the stock its 19th largest holding. Chemistry Wealth Management LLC’s holdings in Alphabet were worth $4,387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Macroview Investment Management LLC lifted its position in shares of Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after acquiring an additional 52 shares during the period. Cornerstone Planning Group LLC lifted its position in shares of Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after acquiring an additional 53 shares during the period. Addison Advisors LLC lifted its position in shares of Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after acquiring an additional 53 shares during the period. Burt Wealth Advisors lifted its position in shares of Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock valued at $1,005,000 after acquiring an additional 54 shares during the period. Finally, Perritt Capital Management Inc lifted its position in shares of Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock valued at $117,000 after acquiring an additional 58 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director now owns 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,770 shares of company stock worth $32,036,638. Insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $173.68 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business has a 50-day simple moving average of $160.14 and a two-hundred day simple moving average of $174.35. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.11 trillion, a PE ratio of 21.58, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the company posted $1.89 EPS. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is 9.36%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOOGL. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research report on Wednesday, May 21st. Jefferies Financial Group cut their target price on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Wells Fargo & Company upped their target price on Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, April 25th. Tigress Financial upped their target price on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $178.00 target price on shares of Alphabet in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.75.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.